Paring Back Ahead of Bernanke

After the June meeting of the Federal Open Market Committee, markets pulled back as investors absorbed Fed Chairman Bernanke's comments regarding stimulus tapering. Since the June 24 intraday reversal, the market has run up considerably. Now Mr. Bernanke is back on the radar, with a scheduled speech after Wednesday's market close. If you've been buying into this rally, what is the correct course of action now?

We've entered a lot of long positions recently, a reflection of our current bullish stance. Now that we're heavily long, we'll look to trim a bit in anticipation of a pullback. If you're heavily long as well, now might be a prudent time to take some money off the table....361 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.

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